The building was a dump and a health risk and you had to be evicted.

Just like developing and selling real estate is not "investing" in real estate.Who cares which is more risk? 

Also looking at Wilmington NC on a tip from a friend if New Haven is too pricey (Last BP Podcast with Steve Garner from Wilmington was super helpful and full of good tips)    Haven't found/reached out to local REIA yet, but aim to this fall.  

I will be managing myself so I will be taking care of snow and grass depending on whether the tenant is up for it.The insurance I quoted was for replacement cost.  

While the bank doesn't know my investing goals or care that my plan it to pay it off quickly, when they just see that I "cash flow" a mere $50 a month and my taxes say I lost money on it, they get scared. 

The local REIA groups around me meet on the day I have my class so as soon as that is over I will be attending the monthly meetings trying to soak up every possible tip I can get my hands on.

If not, does anyone have any tips on sheriff sale auctions?

Solid work and takes care of any issues quickly, although he doesn't have time for full rehabs.

They are churning the numbers and don't care. 

If you can get that while keeping risks manageable, be happy.5 years total ROI (assuming sale) is at least 100%Yeah, if everything goes perfectly, but as an passive investor in some deals, I don't really care what you, the sponsor, says about appreciation.